Book traversal links for Article 4
Article 4
Effective from 2022-04-26 - Oct 22 2022
To view other versions open the versions tab on the right
1. | To achieve its objectives, the Company may: | |
a. | Acquire, hold and use due payments of any kind of finance obligations and rights related to financed residential real estate. | |
b. | Issue securities in accordance with the Capital Market Law after obtaining a no-objection letter from SAMA regarding issuance programs. | |
c. | Provide finance solutions for real estate financiers to finance individual borrowers. | |
d. | Invest its cash in vault in a manner that enables it to manage its assets and liabilities with the utmost efficiency upon obtaining a no-objection letter from SAMA. | |
e. | Issue bonds, sukuk, notes, securities, and other debt instruments to meet its objectives upon obtaining a no-objection letter from SAMA. | |
f. | Carry out any other transactions that serve, complement or support its activities in conformity with its bylaws and after the approval of SAMA. | |
2. | The Company may impose charges for its services, in order to cover all costs and expenses of its operations, make fair profits, and ensure being financially self-sufficient. SAMA is authorized to control and restrict the pricing of the services of the Company. |